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Central Bank of Iran Puts Inflation at 10%

The average goods and services Consumer Price Index for urban areas in the 12 months ending August 22, which marks the end of the Iranian month of Mordad, increased by 10% compared with last year’s corresponding period, the latest report released by the Central Bank of Iran showed.

CBI had put the inflation rate for the preceding month of Tir, which ended on July 22, at 10.3%.

The overall CPI (using for the first time the Iranian year to March 2017 as the base year) stood at 107.7 in Mordad, indicating a 0.2% increase compared with the previous month.

The index registered a year-on-year increase of 8.6% compared with the similar month of last year. The CBI report came after the Statistical Center of Iran put Mordad inflation at 7.7%.

The new CPI report is calculated for the first time based on the fiscal 2016-17 base prices. Previously, the base year was the fiscal 2011-12.